Peter of England: He’s still F RE?

[woodworker]

I think another thing P is trying to do with the collection account nonsense is to try to put the blame on the payee for not attempting to collect what they are owed from the collection account rather than the original debtor. P can say to his customers, tell the payee that you have paid and that their money is sitting in the collection account, so the debtor continues to believe that he has paid off his debt and that the payee is trying to double collect, all of which is nonsense of course.

[littleFred]

I think another thing P is trying to do with the collection account nonsense is to try to put the blame on the payee for not attempting to collect ...

Yes, certainly. Peter has often popped up on videos saying he has cleared cheques and reduced the balance on the sucker's account, so the funds are there just waiting for the payee to magically pick them up.

And, as notorial dissent points out, if people want to join WeRe Bank and play Monopoly money or magic beans with each other, that of itself wouldn't be a problem.

If a utility company decided it was happy to accept magic beans, would that be a problem? Well, yes, it would be. Because then everyone would pay that company in magic beans, so the company wouldn't have any ordinary money and would have to pay its suppliers and employees in magic beans, and so on until magic beans are the only currency in town.

This won't happen.

[IDIOT]

Download link for PoE on the BBC is here

http://www.bbc.co.uk/programmes/b0783lmy

This may not work outside the UK, if not let me know & I can help with a Youtube upload.

Great find. The BBC have clearly done their homework and I suspect got a lot on information from Q.

In Piss Bollocks of England's interview he mentions his spiritualism and humanitarianism yet cannot back himself up regarding his disgruntled victims.

Blokes a cunt and a proper one at that.

[#six]

Download link for PoE on the BBC is here

http://www.bbc.co.uk/programmes/b0783lmy

This may not work outside the UK, if not let me know & I can help with a Youtube upload.

Great find. The BBC have clearly done their homework and I suspect got a lot on information from Q.

In Piss Bollocks of England's interview he mentions his spiritualism and humanitarianism yet cannot back himself up regarding his disgruntled victims.

Blokes a cunt and a proper one at that.

I spoke to a BBC journalist about this last year and informed them of the discussions on here. Hopefully they made good use of that information.

[PeanutGallery]

I was also in contact with them, while Peter started out as being something of a laughing stock - and certainly a banker who believes he has a universal mandate from otherworldly beings to bring us a new system of currency which involves making stuff up is humorous - the issue I have is that people who are vulnerable, either through latent mental health issues, a lack of education or just being from that end of the gene pool that's swimming against the evolutionary current, are the ones who Peter is exploiting.

I've seen it plenty of times before, it's even happened to me when I've been unwell, and that is what scares me that individuals who may be in desperate need of real actual help and who might be able to get that help, are going to suffer a lot more because parasite Pete picked their pockets. He's going to waste a lot of time and money, which we already know his victims can ill afford to lose and it is likely that people will have their lives ruined.

Finally these people are the best type of victims for a scammer, because they don't trust the police they won't go to them. Most of them don't even blame Peter when the cheques or LLT's or whatever go tit's up they blame the banks or the utility companies for not accepting them. It is worrying that the bulk of complaints against Peter are that his admin was a bit crap, and not that he's trousering lots of cash for worthless pieces of paper.

[TheNewSaint]

So now WeRe bank customers are supposed to pressure the recipients of their phony currency into trading it themselves? Reminds me of Bernard Von Nothaus and his Liberty Dollars.

[notorial dissent]

So now WeRe bank customers are supposed to pressure the recipients of their phony currency into trading it themselves? Reminds me of Bernard Von Nothaus and his Liberty Dollars.

And look how well that turned out. Bernie's still in the big house for quite a while yet.

[Seelenblut]

Mr. Smith is pushing Re as a new currency hard. On the 23rd he gave a lecture in Germany, mostly just the usual talking points and advertising, but he had the guts to blame the non-acceptance of LLT's on the German WeRe member themselves, because they "tried to cash them in instead of only paying bad debt". It is frustrating that his marks let him get away with this shit.

Anyway, he did present a first look at the WeRe bank card:



Backside

[exiledscouser]

I have GOT to get me one of those!

Although a Nectar card probably has more use and value.

Listening to the old fraud on the radio, its clear that WeRe has been on journo's radar for some time although the rebuttal speaker left me with the impression of a florid fat cat oozing smugness who'd just popped in for a snifter in the green room, trotted out his piece before a capital lunch down the Garrick courtesy of the BBC.

Large G & T Gianni!

Of course I might be entirely wrong (a poster on here may have been an acquaintance) but shouldn't the programme have spoken with plod or the regulator, an agency that might actually get off its collective backside and investigate this, asked them searching questions about plans to end the fraud and have them give advice to Weary cheque recipients?

A bit of a lost opportunity in my humble view.

[Jeffrey]

Mr. Smith is pushing Re as a new currency hard.

Maybe I'm remembering wrong, but in the BBC radio interview, he denies that the Re is a separate unit of currency.

Someone with infinite time could probably do a compilation of all the times he's waffled on whether or not the Re is it's own unit of currency or whether the checks are in Re or pounds/dollars.

[littleFred]

Maybe I'm remembering wrong, but in the BBC radio interview, he denies that the Re is a separate unit of currency.

You are mis-remembering. He denied that the cheques were written in Re. In that, he was correct: WeRe cheques can be written in any currency. (But payees won't be paid in any currency.) You can listen again on https://www.youtube.com/watch?v=cuHhYOh ... e=youtu.be

As far as I know, Peter has always said the Re is a unit of currency. For example, on WeRe's front page:

The UNIT of Currency is the Re.

But he waffles about the convertibility to explain the fact that while Peter is very happy to convert any currency into Re, no-one at all anywhere will convert Res back into another currency.

[Hercule Parrot]

Anyway, he did present a first look at the WeRe bank card:



Backside

No, he can't be serious...? That's not a real integrated circuit chip (ICC), it's just a printed image of one! Even if he obtained cards with real chips embedded in them, no retail or banking card reader would recognise them as valid for making a payment. It's almost child-like......

[AndyPandy]

What does it say on the gold strip between WeRe and Bank? Can anyone make it out ??

Looks like fg. FINE GOLD, 686.8 Istenbul

[Forsyth]

No, he can't be serious...? That's not a real integrated circuit chip (ICC), it's just a printed image of one! Even if he obtained cards with real chips embedded in them, no retail or banking card reader would recognise them as valid for making a payment. It's almost child-like......

The integrated chip isn't difficult to obtain but, as you say, that has no bearing on whether anyone will accept it as a manner of payment. You might as well try printing your own cheques or money and expect people to accept them!

What does it say on the gold strip between WeRe and Bank? Can anyone make it out ??

I think that would say "1g FINE GOLD 999.9 Istanbul" - at a guess something that Peter received from one of his customers to pay for their Werebank subscription. 1g is the weight in metric units, 999.9 is 99.99% purity.

Looking at the picture I have my doubts about the image. The top edge seems very imperfect and there seems to be a crease running diagonally across the top left corner as if a sticker had been applied awkwardly. In the centre, near the 8888 and "ENERGY", there are more odd crease marks which are unusual for the hard surface of a payment card and are more usual for a paper surface. None of the characters are raised in the manner common to most bank cards, even if this is no longer strictly necessary since the demise of the old carbon-paper credit card devices. There is a slight raised effect to the printing - this is common to certain one-off printing methods on paper but not normally seen on the mass produced plastic surface of payment cards.

This is a all bit odd. There are no end of people selling professionally printed cards for use by businesses, clubs and anyone else who wants to stump up the cash. But I'd expect better quality from them. He could even get a real, working, payment card personalized with his own design and show everyone it being accepted as a payment card.

But, no. We have something that looks like he printed out a sticker and crudely applied it to his library card.

The "embedded" gold bar is problematic as well. A couple of sites suggest that a 1g gold bar would be about 15mm high. Bank cards vary in size but about 54mm is a reasonable figure. If that's a real gold bar embedded into the card it should be taking up over 27% of the height of the card - more than a quarter. It isn't - I'd say it's about 20% of the height of the card (one fifth), so either it's an unusually small ingot or an exceptionally large card. Or it's not a real gold bar, of course, in which case it might just be some random image off the internet, but I'm sure Peter wouldn't mislead people like that,

This must just be a prototype, though, and when they flood out to his subscribers in the thousands in what I am sure will be a matter of days weeks, well, sometime they'll be widely accepted and not look at all like a reject from a children's toy set.

I wait, somewhat eagerly, to discover the new electronic protocol Peter has invented to supplement Spit and Swallow and replace Visa - Vomit, perhaps?

[Zeke_the_Meek]

I think it's a 'real' card and the chip may even be genuine (though obviously useless), but the gold ingot bar is clearly just part of the image - see the pixelated line across the top where whoever has tried to photoshop out the background from a low res file then scaled it up.

In fact, bollocks to it, here's the original image they used which didn't take long to find:



1g of pure gold is worth about £30, plus the labour of inserting one of these into each card (which sounds like an possible task to me.) Why bother going through that for the sake of a sucker who'll cancel his £10/mo subscription almost instantly when you can instead just say something like "It's a picture of gold because that has the exactly the same energy and anyway gold is a made up construct with the value you give to it" or some such shite?

*edit: Now that I think of it, the introduction of gold into the equation will be a perfect opportunity for him to introduce a new mechanic into the equation. If this thing ever surfaces, I'd bet a substantial amount of Re on him talking rubbish about the value of gold as some kind of linguistic slight of hand.

[notorial dissent]

So PoE has a new wrinkle to his scam, quelle surprise. The thing that will doom it is that the bank card interchange system, wells systems really, is completely independent from the banking system but the kicker is that you HAVE TO BE A MEMBER of it just like you have to be a account holder at BOE to use their check clearing system, and they are even stickier about it than BOE. They assign the account number you use on your cards, and if you don't play by the rules, they simply shut you off/down and that is it. The OTHER requirement is that you have a clearing account set up, need I say in/with a real bank, to pay your charges as they come through, two requirements PoE WILL NEVER EVER be able to meet.

[littleFred]

I think Peter knows this, so he's been saying for months that his system will have its own terminals that won't be continually connected to the cloud, but only connected overnight to WeRe Bank for transaction logging. (Kind of like cards used to work, when they were swiped by a dumb machine with carbon paper.)

Retailers won't do this, and I doubt that Peter will even bother trying. If it encourages 1000 new members who pay £10 each for a card plus £30 for 3-months subs, he'll be happy.

[Jeffrey]

This is now the cargo-cult version of banking.

[Seelenblut]

If Peter really wants to go all the way, he can get a printer for the cards for under 2.500 Euro, blank chip card are about 100 Euro for a pack of 100 (prices go higher the more information the chip can hold, this would be the smallest, a 32 byte one), the color cartridges for the printer are about 100 Euro to print several hundred - and if he really wants to write, for example the membership number, on it, a chip writer is only about another 100 Euro.

The fact that the upper edge is already chipping away shows that its not a very high quality and probably self-made. Take a look at one of your own bank or credit cards and even a year old one under heavy use will probably not have chipped off coloring.

So even doing it himself is not a big problem nowadays. From the economic point of view - if he gets only 100 new members because of this, with the minimum 55 £ package its 5500 £ and already more than pays for the investement.

[Hercule Parrot]

This is now the cargo-cult version of banking.

A very apt analogy. Weremugs appear to believe that if they possess bank-like cards, balances and account numbers, then by some magical process they will become wealthy participants in the real banking system.

For some of the members (the desperate and stupid ones), this is real and deeply felt. For most (the greedy and stupid ones), they just think that it might be an opportunity to swindle others. Peter Smith is in no doubt - his business is selling this fraud toolkit to anyone who will buy it, and he's making a very nice living from them.